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GM, Ford confront Wall Street's recession fears

Tuesday, July 26, 2022

By Joseph White

DETROIT (Reuters) - General Motors Co (NYSE:GM) and Ford Motor (NYSE:F) Co are about to replay a script they have played out many times before - trying to convince investors they can get through a recession without skidding into the red.

Analysts have been cutting share price targets and profit estimates for the Detroit automakers over the past several weeks, in tandem with downbeat outlooks for the global economy. High energy prices, rising interest rates, inflation, snarled supply chains and stubborn persistence of the COVID virus all bode ill for automaker profits, analysts said.

At the same time, some analysts say a recession could be mild, and demand for vehicles could recover more swiftly than in the past. One big difference from past slowdowns is that GM and Ford's U.S. dealers are not sitting on big inventories of unsold vehicles that would have to be discounted to sell.

"We believe the set-up over a multi-year horizon is skewing more positively," Bank of America (NYSE:BAC) analyst John Murphy wrote in a note, citing lean inventories and pent-up demand from consumers who held off buying as vehicles became scarce and expensive.

Both GM and Ford also have healthy balance sheets, certainly compared to the period leading up to the 2008-2009 financial market crisis that pushed GM into bankruptcy.

GM, which reports results on Tuesday morning, has stuck to its full-year profit guidance, even after disclosing that it had 95,000 vehicles in stock that it could not ship during the second quarter because of missing parts. GM said earlier this month it expects second quarter net income of $1.6 billion to $1.9 billion, below analysts' expectations of $2.56 billion, as per Refinitiv data.

Ford also kept to its outlook for full-year operating profit of between $11.5 billion and $12.5 billion.

However, Ford is still wrestling with high costs for recalls, and heavy investments to develop more electric vehicles. Bloomberg reported last week that Chief Executive Jim Farley could order that as many as 8,000 jobs be cut from the payroll, largely in operations that support combustion vehicles.

Ford has not commented on the report. But Farley has said several times in recent months that Ford has too many people and is spending too much on quality problems.

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16-08-2022 19:51:44 (UTC+7)

EUR/USD

1.0139

-0.0021 (-0.21%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0139

-0.0021 (-0.21%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.2036

-0.0018 (-0.15%)

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Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

USD/JPY

134.65

+1.33 (+0.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6999

-0.0023 (-0.33%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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USD/CAD

1.2899

-0.0006 (-0.04%)

Summary

Buy

Moving Avg:

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Sell (6)

Indicators:

Buy (8)

Sell (1)

EUR/JPY

136.51

+1.05 (+0.78%)

Summary

↑ Buy

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Buy (8)

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EUR/CHF

0.9645

+0.0031 (+0.32%)

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↑ Buy

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Gold Futures

1,787.20

-10.90 (-0.61%)

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↑ Sell

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Silver Futures

19.880

-0.392 (-1.93%)

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Copper Futures

3.6130

-0.0045 (-0.12%)

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↑ Sell

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Crude Oil WTI Futures

89.45

+0.04 (+0.04%)

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↑ Sell

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Buy (1)

Sell (11)

Indicators:

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Brent Oil Futures

94.94

-0.16 (-0.17%)

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↑ Sell

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Buy (2)

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Natural Gas Futures

9.235

+0.507 (+5.81%)

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↑ Buy

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Sell (2)

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Buy (8)

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US Coffee C Futures

224.40

-1.10 (-0.49%)

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Neutral

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Buy (3)

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Euro Stoxx 50

3,791.45

+1.83 (+0.05%)

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↑ Sell

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Buy (0)

Sell (12)

Indicators:

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Sell (9)

S&P 500

4,297.14

+16.99 (+0.40%)

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Neutral

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Buy (3)

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DAX

13,843.23

+26.62 (+0.19%)

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↑ Sell

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Sell (7)

FTSE 100

7,551.60

+42.45 (+0.57%)

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↑ Sell

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Sell (12)

Indicators:

Buy (0)

Sell (6)

Hang Seng

19,830.52

-210.34 (-1.05%)

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↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

US Small Cap 2000

2,020.40

+7.30 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

IBEX 35

8,487.50

+60.50 (+0.72%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

BASF SE NA O.N.

44.182

+0.122 (+0.28%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

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Bayer AG NA

54.03

+0.47 (+0.88%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Allianz SE VNA O.N.

179.58

+0.80 (+0.45%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (6)

Adidas AG

170.34

-2.60 (-1.50%)

Summary

↑ Sell

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Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.727

-0.007 (-0.10%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Siemens AG Class N

111.24

-0.96 (-0.86%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

Deutsche Bank AG

9.005

+0.063 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

 EUR/USD1.0139Neutral
 GBP/USD1.2036Neutral
 USD/JPY134.65↑ Buy
 AUD/USD0.6999↑ Sell
 USD/CAD1.2899Buy
 EUR/JPY136.51↑ Buy
 EUR/CHF0.9645↑ Buy
 Gold1,787.20↑ Sell
 Silver19.880↑ Sell
 Copper3.6130↑ Sell
 Crude Oil WTI89.45↑ Sell
 Brent Oil94.94↑ Sell
 Natural Gas9.235↑ Buy
 US Coffee C224.40Neutral
 Euro Stoxx 503,791.45↑ Sell
 S&P 5004,297.14Neutral
 DAX13,843.23↑ Sell
 FTSE 1007,551.60↑ Sell
 Hang Seng19,830.52↑ Buy
 Small Cap 20002,020.40↑ Buy
 IBEX 358,487.50↑ Sell
 BASF44.182↑ Sell
 Bayer54.03↑ Sell
 Allianz179.58↑ Sell
 Adidas170.34↑ Sell
 Lufthansa6.727Buy
 Siemens AG111.24↑ Sell
 Deutsche Bank AG9.005↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
(-10/ -10) # 1,639
SJC HCM6,600/ 6,700
(-10/ -10) # 1,659
SJC Hanoi6,600/ 6,702
(-10/ -10) # 1,661
SJC Danang6,600/ 6,702
(-10/ -10) # 1,661
SJC Nhatrang6,600/ 6,702
(-10/ -10) # 1,661
SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 19:51:46
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RON 95-V25.34025.840
RON 95-III24.66025.150
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Dầu hỏa 2-K23.32023.780
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Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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